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EUR & CHF Weekly Forecast – Focus on Lockdowns and Vaccine Rollout

EUR & CHF Weekly Forecast – Focus on Lockdowns and Vaccine Rollout

There are no major reports due from the euro zone and Swiss economy this week, so traders could continue to keep close tabs on pandemic-related update

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There are no major reports due from the euro zone and Swiss economy this week, so traders could continue to keep close tabs on pandemic-related updates.

Mid-tier economic releases

  • German Ifo business climate index (Feb. 22, 9:00 am GMT) to improve slightly from 90.1 to 90.5 in February
  • German GfK consumer climate index (Feb. 25, 7:00 am GMT) to rise from -15.6 to -14.0 this month
  • French consumer spending, preliminary CPI and GDP due on Feb. 26, 7:45 am GMT
  • Swiss KOF economic barometer (Feb. 26, 8:00 am GMT) to improve from 96.5 to 97.2 this month

Pandemic-related updates

  • Germany extended its lockdown until March 14, as the U.K. variant of the virus continues to spread
  • Restrictions in other European nations might be tightened as well, further crippling sentiment and economic activity in the region
  • EU vaccination program is hitting roadblocks as opposition for the AstraZeneca vaccine increases

Technical Snapshot

EUR Forex Pairs Trend Strength from MarketMilk
EUR Forex Pairs Trend Strength from MarketMilk
  • Stochastic suggests that most EUR pairs are in for gains, with EUR/AUD, EUR/NZD, EUR/CAD, and EUR/GBP all in the oversold region
  • EUR/CHF is looking overbought while the rest are in the neutral area
EUR Forex Pairs Stochastic from MarketMilk
EUR Forex Pairs Stochastic from MarketMilk
CHF Pairs Stochastic from MarketMilk
CHF Pairs Stochastic from MarketMilk

Missed last week’s price action? Make sure you read the EUR & CHF Review for Feb. 15 – 19!

This post first appeared on babypips.com

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